Dubai has launched the first arbitration centre in the Middle East in response to the increasing number of maritime disputes both in the area and worldwide.
The Emirates Maritime Arbitration Centre (EMAC) has officially appointed a new board of trustees and will look to develop a unified regulatory framework to resolve maritime issues.
Sultan Bin Sulayem, chairman of Dubai Maritime City Authority, said: “It is not surprising for Dubai to incubate the EMAC which is of special importance as a proactive regional initiative for the settlement of disputes according to developed arbitration mechanisms and thoughtful and independent legal frameworks and regulatory controls.”
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